New SEBI Grade A IT Stream New Batch Starts on Nov 30. Click Here to Enroll

    Register

    Question

    Study the information carefully to answer the questions that follow : A precision manufacturing company produces four different types of watches I, II, III, and IV. The cost of four watches of type I is equal to the price of one watch of type IV. The cost of 3 watches of type II is equal to the price of one watch of type III. Further, the price of watch of type II is twice the price of watch of type I. Now, three different companies X, Y, and Z place different orders with variable prices of the watches.

    Company Z considered the price of type II watch as Rs. 50,000. The company placed an order for 2 watches of each type and paid an advance amount of Rs. 2 Lakhs. What is the balance amount that the company needs to pay?

    A Rs. 4.25 Lakhs Correct Answer Incorrect Answer
    B Rs. 4.50 Lakhs Correct Answer Incorrect Answer
    C Rs. 3.75 Lakhs Correct Answer Incorrect Answer
    D Rs. 6.50 Lakhs Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Given that: 4I = IV, 3II = III and 2I = II On solving all three in terms of I :- Ratio of Prices are of I:II:III:IV = 1:2:6:4(given) Price of one vehicle of type ll = 2x= 50,000 x= 25,000 Price of a type I vehicle = 1 × 25,000 = 25,000 Price of a type III vehicle = 6 × 25,000 = 1,50,000 Price of a type IV vehicle = 4 × 25,000 = 1,00,000 Total amount of purchase = 2 × 25,000 + 2 × 50,000 + 2 × 1,50,000 + 2 × 1,00,000 = 50,000 + 1,00,000 + 3,00,000 + 2,00,000 = 6.5 lakhs Balance amount to be paid = 6.5 - 2 = 4.50 Lakhs

    Practice Next

    Relevant for Exams: